Mr Greinke will replace Chuck McArthur, who has resigned as president and CEO of the company. In addition, Mr McArthur has withdrawn his name from consideration for election to United Fuel’s board of directors.
Mr Greinke became president of Southern Counties (SC) Oil in 1987 and acquired ownership of the company in 1991. Under Mr Greinke’s leadership as CEO, SC Fuels and its related companies have operations in 11 western states and serve over 35,000 customers annually, delivering commercial bulk fuels, wholesale branded fuels and alternative fuels.
Mr Greinke said: Under Chuck’s leadership, United Fuel’s customer base and geographic reach grew significantly and he established a foundation for building a first class operation. As a holder of almost 52% of the company’s common stock, I am committed to building shareholder value and have chosen to limit my annual salary to $1 as the chairman and CEO of United Fuel.
